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2016 Annual Meeting – Apache Corp

Apache Corp · May 12, 2016 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2016 Annual Meeting – Apache Corp – slide 1
  2. 2016 Annual Meeting – Apache Corp – slide 2
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  3. 2016 Annual Meeting – Apache Corp – slide 3
    ADAPTING TO A CHANGING ENVIRONMENT In 2015, Apache: Realigned the organization and streamlined the portfolio and management team to better align with the current volatile environment; Reduced activity and spending levels to align with…
  4. 2016 Annual Meeting – Apache Corp – slide 4
    2015 ACCOMPLISHMENTS Strategic initiatives Exited LNG and Australia upstream business Reduced our net debt by 3.2 billion(1) Attacked the cost structure at every level Implemented a multi-year, multi-scenario planning process…
  5. 2016 Annual Meeting – Apache Corp – slide 5
    STREAMLINED PORTFOLIO Well-balanced portfolio with diversified opportunity set Extensive resource base in North America, anchored by Permian, will drive future growth Free-cash-flow-generating assets with years of exploration and…
  6. 2016 Annual Meeting – Apache Corp – slide 6
    POSITIONED FOR THE FUTURE Strategic Organizational Changes Evolved leadership, portfolio and capability Unconventional 2014 North American over the last two years resources team Update developed CEO succession; Organizational 2015…
  7. 2016 Annual Meeting – Apache Corp – slide 7
    FY 2015 BALANCE SHEET IMPROVEMENTS 12 (in billions) 3.2 billion reduction in net debt 10 Eliminated 900 million of 8 2017/2018 maturities 30% Only 700 million of debt 6 maturing through 2020 4 3.5 billion of liquidity…
  8. 2016 Annual Meeting – Apache Corp – slide 8
    MIRRORED ACTIVITY LEVEL TO PRICE ENVIRONMENT Rig Count Price per Bbl WTI Oil Price Apache International Rigs 120 120 Apache North American Rigs 100 100 83% Capital reduction 80 80 2016 versus 2014 60 60 40 40 94 Rigs cut…
  9. 2016 Annual Meeting – Apache Corp – slide 9
    QUARTERLY COSTS TRENDING DOWN Cumulative well cost declines in key North Gross overhead - cash cost LOE per Boe American Onshore plays since 2014 45% (Millions) 19% 1Q16 vs 1Q15 ( / Boe) 21% 1Q16 vs 1Q15 0% 200 10.00 9.50…
  10. 2016 Annual Meeting – Apache Corp – slide 10
    WELL COSTS IN N.A. ONSHORE KEY PLAYS DOWN 45% Structural cost savings account for over half of the reductions to date Design Savings 100% Efficiency 10% Savings 2014 Service Cost 14% 80% Average Savings Well Cost 21% 60%…
  11. 2016 Annual Meeting – Apache Corp – slide 11
    APACHES BALANCED PORTFOLIO Ranking our opportunities CONVENTIONALS UNCONVENTIONALS SHORT CORE CYCLE 1 2 3 4 LONG NON-CORE CYCLE CONVENTIONALS UNCONVENTIONALS 12
  12. 2016 Annual Meeting – Apache Corp – slide 12
    NORTH AMERICA OVERVIEW Large acreage position across multiple oil- and liquids-prone plays: Permian, Eagle Ford, Woodford, Canyon Lime and Duvernay/Montney Relatively low base decline rate reduces capital required to replace…
  13. 2016 Annual Meeting – Apache Corp – slide 13
    INTERNATIONAL ASSETS Generating higher operating cash margins than North America High quality, stacked pay reservoirs with high cash margins Egypt Significant exploration opportunity demonstrated with Ptah and Berenice oil fields PSC…
  14. 2016 Annual Meeting – Apache Corp – slide 14
    APACHES APPROACH IN 2016 Continuation of our 2015 strategy Target cash flow neutrality and unchanged or lower net debt by year end Preserve our financial strength and liquidity Focus on optimizing and delivering returns, not…

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